Business Today TOP 25 2014-2015 awards recognises top corporate performers

Business Today TOP 25 commended the top corporate performers of Sri Lanka for the financial year 2014-2015. The award ceremony was held on 17 November, at the Hilton Colombo acknowledging 25 outstanding companies for their exceptional performance in corporate Sri Lanka during the year. 

Chief Guest for the occasion Prime Minister Ranil Wickremesinghe attended the event with Prof. Maithree Wickramasinghe and distinguished guests from the business fraternity, diplomats, politicians and policy makers of Sri Lanka.

Ven Galaboda Gnanissara Thero, Chief Incumbent of the Gangaramaya Temple stated during his address at the occasion, “Lord Buddha preached to man ‘Vishwa Paramanathi’; meaning trust is the most valuable relationship. Ethnicity, religion, cast and creed or political ideologies are insignificant if one trusts another. From his teachings, this example is applicable to everyone despite their different belief systems.”

During his address at the occasion, Prime Minister Ranil Wickremesinghe stated, “While Sri Lanka’s business sector and the corporates have become more competitive all our resources are insufficient for a rapid economic development. If we are to look at Sri Lanka as becoming a platform, as I have mentioned many times before for competitive value addition and logistics centre, we do require foreign investment. And it is available. We have to ensure that we carry out our next generation economic reforms and that we can attract that investment to Sri Lanka. It is certainly going to be a challenge which we cannot run away from.”

John Keells Holdings once again ranked at number one in the Business Today TOP 25, reiterating the Group’s remarkable standing in the corporate sector of Sri Lanka. The Group saw a 22% increase in profit after tax from last year to Rs. 15.75 billion with the leisure sector making the largest contribution of 31%. Addressing the gathering at the ceremony, John Keells Director Ronnie Peiris said, “John Keells Holdings is humbled by the recognition as the numero uno of the Corporate World in 2014/2015 by Business Today. We owe our success to our stakeholders, particularly our employees, customers, suppliers the society we operate in and the government. We will leave no stone unturned in our efforts to contribute to the economic development of our glorious country.” 

Commercial Bank of Ceylon retained its position at number two while Hatton National Bank moved up the ranking to secure the third position. Recording an asset growth of 31% to 797 billion rupees, for the third consecutive year Commercial Bank achieved a profit after tax of over Rs. 10 billion to reach Rs. 11.24 billion. “This is the eighth year we have been ranked in the Top 25. Our success is due to the dedication and passion of employees of all levels and the unwavering support of our customers,” commented Commercial Bank Chairman Dharma Dheerasinghe on their recognition. 

Hatton National Bank recorded assets of over Rs. 600 billion while profit after tax exceeded Rs. 10 billion. HNB Managing Director/CEO Jonathan Alles stated, “HNB is especially thrilled to be amongst the Top Three. We are grateful for the recognition bestowed on HNB which we believe is an acknowledgement of the tremendous work that has been done over the past few years in re-engineering the business models, processes and structures.”  

Ceylon Tobacco Company ranked fourth while the Distilleries Company of Sri Lanka secured the fifth place. Upon receiving the award, Ceylon Tobacco Corporation Corporate and Regulatory Affairs Director Dinesh Dharmadasa remarked, “We are extremely proud to be placed fourth, especially as we and DCSL are the only organisations that represent the Manufacturing Sector in this list.” 

“We are extremely proud to receive this Award once again. In a challenging year we are happy to state that the company increased its turnover and PAT in comparison to the previous year,” said Distilleries Company of Sri Lanka Director Amitha Gooneratne, on being placed fifth on the list. 

Dialog Axiata was positioned sixth, Lanka Orix Leasing Company at seven while Bukit Darah secured the eighth position. Completing the top ten positions Sri Lanka Telecom and Sampath Bank were ranked ninth and tenth positions respectively.  

Speaking at the event, Dialog Axiata Group Chief Executive Dr. Hans Wijayasuriya said, “I’d like to dedicate this Award to our 10 million customers who come from across all provinces and the farthest corners of Sri Lanka, the 3000 strong Dialog Team who has put heart and soul towards the achievements of this company and also our enterprise partners.”

“We have been promoted to the top ten this year and this is a great honour for all of us. I would like to thank our customers who contribute to 85% of our income,” stated LOLC Managing Director/CEO Kapila Jayawardena.

“This award reflects the dedicated hard work that resulted in achieving all our goals through our people and is a tribute to those who are in the corporate battlefield,” commented Bukit Darah Director Chandima Gunawardena.

Entering the top ten, SLT Chairman P.G. Kumarasinghe Sirisena meanwhile said, “Sri Lanka Telecom has been recognised continuously at these Awards for many years. As the national telecommunication service and premier IT Solution provider in Sri Lanka Telecom is really proud to support the country with our IT capabilities and next generation IT solutions which will support Sri Lanka in attaining its position as an IT hub in the region.”

Sampath Bank Chairman Dhammika Perera stated, “Behind every successful business are stakeholders, customers and employees who are the pillars of their achievements. Tonight I dedicate this award to the human capital that made this recognition for Sampath Bank and Valibal One a reality.”

The ranking continued with Hayleys at 11, Aitken Spence – 12, Nestlé Lanka – 13, Vallibel One – 14, National Development Bank – 15, DFCC Bank – 16, People’s Leasing and Finance – 17, Central Finance – 18, Chevron Lubricants Lanka – 19, Seylan Bank – 20, Ceylinco Insurance – 21, Nations Trust Bank entered the Business Today TOP 25 for the first time at 22, Hemas Holdings – 23, Access Engineering 24 and Lanka IOC – 25.  

Commenting on entering the Business Today TOP 25 for the first time, Nations Trust Bank CEO Renuka Fernando said, “I wish to dedicate this accolade to the dynamic team at Nations Trust whose passion for excellence, unrelenting drive and winning mindset has been the key success factor for this achievement.”

The Business Today TOP 25 companies have been selected on the basis of their financial performance during the financial year ending 31 December 2014 and 31 March 2015. 

The Business Today TOP 25 is strictly based on the published information of companies listed in the Colombo Stock Exchange. Turnover alone is not a true indicator of the performance of a company. Financial criteria considered include Share Turnover, Revenue, Profit after Tax, Return on Equity, Earnings per Share, Market Capitalisation and Value Addition. Weights are assigned to the criteria without any prejudice. 

Business Today has annually recognised and awarded top corporate performers in the country since 1998 acknowledging them for their invaluable contribution towards reinforcing the country’s economy.